Physical stores are becoming an attractive customer acquisition channel for brands that began as online-only retailers. Most have reached a point of decreasing returns and ever-higher acquisition costs for additional customers. They’re hoping that Instagram, where ads are generally cheaper than Facebook, will bring in new buyers, but Instagram’s success as a new-customer channel hasn’t been proven yet.
Warby Parker took the lead in using physical stores to draw new customers and sales. Peloton’s IPO filing explained that the company opened physical stores to attract customers with the opportunity to experience their home exercise equipment, even though customers will generally go home and order from Peloton online.
Digitally native brands have a language and metrics of their own that don’t exist in the world of brick-and-mortar retail. One of the reasons we founded Omnee was to bring the real-world parallels to metrics like “cost per click” to mall operators and your tenants, so you can gather and analyze the data they need to understand what’s really going on inside and outside your doorways.
For online brands, talking about ad viewability is as normal as you discussing storefront dwell. There are a few key concepts to understand.
If you haven’t yet, log in to Google Analytics to see the dashboards and numbers by which most online retailers gauge their success.
Online brand professionals may not realize what they don’t know about brick-and-mortar retail. There are a few key differences which you can offer as opportunities to help them reach:
Omnee can provide you with unified big-picture data, analysis and insights on an ongoing basis, and teach you how to use the language and lore of e-commerce to better court native online brands. Whether or not the downturn forecast for 2020 happens, online brands will continue to seek real-world locations, and will obviously prefer to lease from those who clearly understand them. Talk to us to find out how you can gain an advantage.